体育产业：开辟新赛道（第九版）

Foreword Since its launch in 2016, the survey has taken thepulse of global sport by tracking leaders’ viewson growth, risks, and opportunities. New this year,we add a fan lens (7,250 survey responses across17 countries) to complement the executive view,providing a dual perspective on how strategiesalign with audience expectations.In the pages that follow, we assess the growthA special thanks to our interviewees Jo Redfern,Holly Murdoch, Alex McLin, Bex Smith, DavidRader, Jonathan Fascitelli and Regina Rossi whoseinsights deepen and enrich the analysis. We hopeyou find the report thought‑provoking and usefulto help you navigate change and capture theopportunities ahead. We’re delighted to introducethe ninth edition of our GlobalSports Survey. This year wegathered 517 responses fromsenior sports executivesacross 48 countries – thankyou to everyone who sharedtheir perspectives on thecurrent state and futuredirection of the industry. outlook and explore five themes we believe willshape the next phase of the sports economy: theinvestment landscape, changing fan behavioursand media consumption, the positive momentumin women’s sport, the evolution of stadiums andvenues, and sports integrity and governance.The industry’s opportunities remain significant,but must be considered alongside macroeconomicuncertainty that could influence consumer spendingand investor appetite. This will require the industryto blaze a new trail, with bold strategies andcreative approaches to deliver growth. Sports Businessshin.a.szedlak@pwc.ch View from the top 7.9Team franchisevaluations 55%Sportsinvestment %valuation growth, in thenext 3‑5 years, up from7.0% last year of executives expectinvestment capital to favouremerging or breakaway models 78%diversification 7.4growth 63% of executives expectinvestors to focus on of fans globally still prefer toconsume traditional leaguesand structures %market growth (marginally upfrom 7.3% last year) expected Report Title | 1 Chapter Namefor the next 3‑5 years assets with diverserevenue streamsbeyond media rights View from the top Women’s sport Fandom 91%of executives expect double 66%of fans consume live digit revenue growth forwomen’s sport over the next3‑5 years sports broadcasts, butyounger fans increasinglyprioritise ancillary content 4PwC75%of executives see integritybreaches as a majorcommercial risk 56 43% %of fans are willing topay for women’s sportscontent and events of fans believematchday experiences outweigh ticket costs Contents 01Market outlook07 02Sports investment1003 Global Sports Survey | 1 Market outlookMarketoutlook Insight 01 Executives expect overall slower growth in media rights to be offsetby growth in other revenue streams growth across most revenue streamsversus last year’s survey, with mediarights the main exception.Media rightsgrowth is anticipated to is expected to accelerate as teamsfocus on delivering premium matchdayexperiences and stadiums / real‑estateinvestment to increase yield per fan.Merchandiseis a smaller, but growing slow and we expect to see a sharperdivergence between premium andnon‑premium properties; outcomesalso vary by region, with the USA moreresilient than Europe.Sponsorshipis the second biggest contributor as sports franchisespartner with fashion or lifestyle brandsto create exclusive collections andstrengthen fan identity.Team/franchise valuationis supported by scarcity of high‑qualityassets and new pools of global capital,but higher interest rates and operatingcost inflation are tempering multiples.While media rights remaincritical, slower growth in this revenue driver for sport, andexecutives forecast commercialand sponsorship growth to partlycounteract the media slowdown overthe next 3‑5 years.Betting-related rightscontinue tolead growth on the back of ongoing segment underscores the importanceof diversified revenue streams insustaining the overallmarket expansion. legalisation and expansion of in‑playmarkets, despite market consolidationand increased taxation applyingdownward pressure inspecific markets. Insight 02 Sports executives predict positive but overallslower sports market growth in the next 3-5 years Sports executives project7.4% annual growth for theindustry over the next 3-5 years(down from 8.5% inover the past 3‑5 years). Growth is driven by the Asia(9.4%) and North America (8.5%), with more temperedexpectations in mature markets such as Australasia(7.3%) and Europe (6.7%).Executive sentiment forAsiaremains in line with previous editions despite global trade tariffs,slowing economic growth and recent geopoliticaluncertainty, though projected growth variers widelyby local market.Africaboasts favourable demographics (with half the population below age 20) and improving infrastructurewhich support faster expansion albeit from a low base.Growth in mature markets such asNorth America /Europe / Australasiais slowing versus recent years following the reset of the media market andongoing con